A closer look at listing stock levels shows house and unit listings remained stable, while listings for vacant land decreased by one per cent. This week’s total figure is three per cent lower than levels seen four weeks ago and are 10 per cent lower than levels seen a year ago.

If you’re in the Kardinya area, you may have heard of our Property Consultant Angelica McKenzie.

Angelica recently sold Noel and Geraldine’s home in Bassendean and we now have two very happy sellers. Noel and Geraldine’s home was on the market for a year before they met Angelica and she applied her trademark positive energy and tenaciousness.

“After a year of several agents attempting to sell our home, at a realistic price Angelica was a delight to deal with. Her home opens attracted more viewers in 7 weeks than other agents had in 12 months! Plus it included a purchaser. Her ongoing communication during the entire process was always timely and informative. Whoever believes real estate agents have a bad reputation has not availed themselves of the service offered by Angelica and St Ives Realty. Noel and Geraldine | Sellers | Hyland Street, Bassendean”

As reported on reiwa.com.au on the 4th June 2019, REIWA welcomes the Reserve Bank of Australia (RBA)’s announcement today to cut cash rates from 1.5 per cent to 1.25 per cent and strongly encourages all lenders to pass this on to their customers.

According to REIWA, Perth’s median house price increased by nearly two per cent in the three months to December 2016. The results show that sectors of the market are recovering and strengthening.

Perth properties for sale

REIWA President Hayden Groves said reiwa.com data showed the median house price had lifted 1.9 per cent to $535,000 over the three month period.

“This is the second month in a row that we’ve seen an increase in the median house price, which is a welcome trend and suggests that the trade-up sector of the market is recovering.

“Since the second half of 2016, we’ve seen prices across the metro area start to lift on a monthly basis. If you’re a buyer waiting for the ‘bottom of the market’, you would be wise to make a buying decision soon should this trend continue.

“The benefit of buying now is that there is currently less competition from other buyers, so you’re more likely to find a home or investment property that genuinely meets your needs,” Mr Groves said.

Listings for sale in Perth experienced an 11 per cent decline in December, with 13,883 listings recorded in the metro area.

“It’s not unusual for listing volumes to drop off in December as the market tends to be quieter over the festive period. More significantly though, listings in December 2016 were three per cent lower than in December 2015 which is a good indication that we’ve seen supply peak,” Mr Groves said.

Perth rental properties

In line with seasonal trends, leasing activity in Perth’s rental market moderated slightly in December, dropping back two per cent over the month. However, when compared to December 2015, activity has escalated by a noteworthy 27 per cent.

“We expect to see a slowdown in leasing activity across the month as people prepare for the holidays, so a two per cent drop isn’t a concern. The hike in the number of properties leased on an annual basis however is very pleasing and there’s been a significant increase compared to the same time in December 2015.

“Despite listings for rent remaining above the long term average, tenants are still very active in the market and recognise they have good choice to secure a home at a competitive price,” Mr Groves said.

Another positive sign for the Perth rental market is that the median house and unit prices remained steady over the three months to December 2016, holding at $380 and $340 per week respectively.

Leading up to Christmas, there was a four per cent decline in sales activity in Perth for the week-ending 20 December 2016. According to REIWA, 528 transactions were recorded.

The decline, which was likely influenced by the upcoming holiday season, was because of a 10 per cent decrease in house sales.

Unit sales experienced a notable 26 per cent increase in sales, while vacant land sales were stable.

Listings for sale

The total number of properties for sale in Perth declined by two per cent this week to 15,092.

Listings for all houses, units and vacant land decreased by two, three and two per cent respectively over the week.

The total number of listings recorded this week is three per cent lower than four weeks ago and two per cent higher than the same time last year.

Perth rental market

REIWA members reported that the total number of properties for rent in Perth was stable over the week, holding at 10,506. This is one per cent lower than four weeks ago and 13 per cent higher than the same time last year.

Late October saw overall sales activity in Perth drop by four per cent.

According to the Real Estate Institute of WA, the change was attributed to a six per cent decrease in house sales, while sales for units remained stable and vacant land sales experienced a healthy 14 per cent increase.

Listings for sale

The total number of properties for sale in Perth lifted two per cent this week, to 14,948.

Taking a closer look, listings for units, houses and vacant land increased by one, two and three per cent respectively.

The total number of listings recorded this week is four per cent higher than four weeks ago and eight per cent lower than the same time last year.

Perth rental market

REIWA members reported that the total number of properties for rent in Perth increased marginally by one per cent to 10,594 this week.

This figure is one per cent lower than four weeks ago and 22 per cent higher than the same time last year.

Facebook Live

About Us

St Ives Realty is the name behind the sale and rental of thousands of residential properties in Western Australia. Established in 1981, our agency has carved a reputation as a leading real estate specialist in the local market.